People ex rel. Pacific Mail Steamship Co. v. Commissioners of Taxes & Assessments
New York Supreme Court
Certiorari to the commissioners of taxes and assessments of the city of New York. The relators were assessed for personal property for the year 1873 in the sum of $20,000,000, which is the exact amount of their capital stock.
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Certiorari to the commissioners of taxes and assessments of the city of New York. The relators were assessed for personal property for the year 1873 in the sum of $20,000,000, which is the exact amount of their capital stock. Feeling aggrieved by this assessment they made timely application to the commissioners of taxes and assessments to have the same corrected, and thereupon F. W. G. Bellows, the vice-president of the relators, was examined under oath by the said commissioners, and his written deposition thus taken is annexed to their return to the writ of certiorari herein, and is marked…
1Opinion of the CourtIngraham, P. J.
The decision of this court in the several cases of the railroad companies,* disposes of the questions raised in this case in regard to the indebtedness of the company. This case differs from those referred to, in the fact that no valuation of the stock was furnished by the officers of the company.
The commissioners, as in the other cases, valued the stock at its par value, $20,000,000.
The officers of the company objected, and furnished a statement of the property and debts of the company, and thereupon the valuation of the capital stock was reduced one-half, $10,000,000. From this was deducted…
2Cases cited2 opinions
- Hoyt v. . the Commissioners of TaxesNew York Court of Appeals · 1861
- The People v. . Commissioners of Taxes and AssessmentsNew York Court of Appeals · 1861
3Cited by4 opinions
- Union Refrigerator Transit Co. v. KentuckySupreme Court of the United States · 1905
- People ex rel. Second Avenue Railroad v. BarkerNew York Supreme Court · 1893
- People ex rel. Delaware & Hudson Canal Co. v. BarkerNew York Supreme Court · 1897
- Union Refrigerator Transit Co. v. KentuckySupreme Court of the United States · 1905